Stuttgart, Germany — Bosch and Johnson Controls have officially signed off on the deal to sell Johnson Controls’ HVAC segment and Hitachi Air Conditioning to Bosch.
The transaction, which began one year ago, costs $8 billion USD. Through this acquisition, Bosch will own Johnson Controls’ residential and light commercial HVAC business and the Johnson Controls-Hitachi Air Conditioning joint venture.
“With the largest acquisition in our company history, we are accelerating our growth, expanding our global footprint, and balancing our business by strengthening our energy and building technology – this makes Bosch more powerful and robust, in line with our corporate strategy 2030,” says Stefan Hartung, chairman of the Bosch board of management.
All acquired access will be integrated into Bosch’s Home Comfort Group, which focuses on significant segments of the heating, heat pump, and hybrid heat pump market. This merger will see the Bosch Home Comfort Group business team grow from 14,600 employees to 26,000.